Survey Reveals What Agents Look For in the Companies They Represent
Agents Value Competitive Products, Financial Stability, And 24/7 Service
MAYFIELD VILLAGE, Ohio — July 24, 2002 —A recent survey by the Progressive group of insurance companies (NYSE: PGR) revealed that independent insurance agents are focused on placing their customers with strong, stable, service-oriented companies. Over 1500 agents across the country responded to the online survey - which asked questions about what agents look for in the companies they represent — at Progressive's agent-dedicated Web site, ForAgentsOnly.com (FAO). Progressive is the number one writer of auto insurance through independent agents in the country.
In the survey, almost 40 percent of respondents said that a company's ability to offer competitive products was the most important thing they consider when deciding where to place their personal lines business. Nearly 30 percent said that a company's financial stability as reported by A.M. Best was the most important consideration, followed by a company's ability to offer 24/7 claims and customer service. Rounding out the list, in rank order, were agency compensation, technology provided to agents, and advertising or consumer brand recognition.
"The results of our company survey verify what we've known all along — that consumers who want the highest level of service for their insurance needs should call or visit their local, independent agent," said Bob Williams, Progressive's agent group president. "Independent agents put their customers' needs first, and are uniquely suited to match those needs with the right combination of coverage and price."
The survey also revealed that independent agents are looking for better technology from their personal lines companies: 45 percent of respondents said technology is the thing they would like to see improved. Progressive has been responding to such needs by continually enhancing its technology to improve the speed and ease at which independent agents service their customers. For instance, agents recently began quoting and selling polices via FAO, and can process policy endorsements online through the site. Agents can even encourage their customers to perform routine policy maintenance, such as making payments or changing an address, through the company's policyholder self-service site, personal.progressive.com.
The Progressive group of insurance companies, in business since 1937, comprises the nation's fourth largest auto insurance group and the largest writer of auto insurance through independent agents. The more than 30,000 independent agencies that represent Progressive combine the power of personalized service and counsel with Progressive's trusted brand, superior 24/7 service, innovative technology and competitive rates. Authorized agents can logon to Progressive's agent-dedicated Web site, ForAgentsOnly.com (FAO) to access customer policies, state and countrywide news, and other interactive features. The group's holding company, The Progressive Corporation, is publicly traded at NYSE:PGR.
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